The APEC Summit 2017 concluded on 11 Nov 2017, bringing practical results to the regional cooperation. This is the second time Vietnam has played host. APEC 2017 under the theme "Creating new dynamism, Fostering a shared future" was held in the central coastal city of Vietnam - Da Nang. Let's have a look at what happened at APEC 2017 through the impressive figures and events compiled by VietnamCredit.
 


In terms of logistics for APEC 2017, Vietnam had prepared a 21-minute firework display to welcome leaders from 21 member economies; 49 International five-star hotels; 1600 cars; 110 extra Vietnam Airlines flights; 1,750 police officers; 792 cameras to monitor security; 32 permanent and preventive health organizations; 500 health workers; 759 volunteers.
 

 
As the host of APEC 2017, Vietnam welcomed representatives of 21 member economies; 10,000 domestic and foreign delegates; leaders of International Organizations: World Bank, Asian Development Bank (ADB), World Economic Forum (WEF), Organization for Economic Co-operation and Development (OECD) and Asian Infrastructure Investment Bank (AIIB).

Over 200 events, 8 ministerial meetings with the participation of such dynamic economies as the United States, Japan, South Korea, Australia and more than 1,000 international enterprises belonging to APEC members were held.

Vietnam has signed 12 free trade agreements with countries in the Asia-Pacific region.

TPP 11 has been reached and renamed as the Comprehensive and Progressive Partnership for Trans-Pacific Partnership (CPTPP).

APEC 2017 first saw micro, small and medium-sized enterprises (MSMEs) and women-owned companies become the main topic of discussions, as well as in the dialogues between leaders of APEC economies and businesses.

Many multinational-corporations executives claimed that global businesses will also change their business mindsets in the digital economy including the involvement of MSMEs in the global value chain. Banking, credit and guarantees are also among topics of concern and discussion.

The term “Indo – Pacific” was, for the first time, mentioned and discussed exhaustively by the developed economies at the meetings within APEC 2017. By repeatedly using the term, the president of the U.S D. Trump wanted to implicate a wider area than China and the emerging economies in East Asia.

 

The US government will issue APEC Business Travel Cards (ABT Card) permanently valid for US citizens engaged in business with APEC member economies.

On this occasion, Vietnam organized the first Informal Dialogue with the participation of APEC and ASEAN leaders, under the theme "Creating new motivation for a comprehensive Asia-Pacific.". The first Informal Dialogue between APEC and ASEAN on the theme of "Creating New Motivation, for a Comprehensive Asia-Pacific," with the participation of leaders of economies the APEC and 10 ASEAN leaders.


 

 
Many bilateral meetings between Vietnam and representatives of major economies such as Russia, the United States, Korea, Canada, Japan and Australia were organized to strengthen external relations, promote trade and cooperation agreements. 

Australian Trade Minister Steven Ciobo and leaders of leading Australian corporations in the fields of Health, Aviation, Mining, Gas, Steel and Food, who attended the APEC Summit, also showed their willingness to invest in Vietnam.

Foreign Direct Investment (FDI) into Vietnam in the past 10 months of APEC member economies has reached USD24 billion, accounting for 85% of total foreign investment in Vietnam. 13 out of the 15 FTAs of Vietnam are with 18 APEC member economies.

Therefore, APEC 2017 is considered to have a positive impact on Vietnamese businesses including giving them the chance to promote and establish business partnerships with more developed regional partners.
-Compiled by VietnamCredit-